Noida: 76-yr-old man loses ₹79 lakh to online trading fraud

The victim, who requested not be identified, is a businessman, residing at an upscale high-rise in Sector 94

Noida: A 76-year-old man in Noida Sector 94, allegedly befriended by a woman on social media, was duped of ₹79 lakh after being lured to make profit through online trading, police said on Thursday.

In multiple transactions, the victim transferred ₹79.20 lakh between September 17 to October 24. (Representational image)

The victim, who requested not be identified, is a businessman, residing at an upscale high-rise in Sector 94.

In his complaint to the police, the victim stated, “A woman who identified herself as a resident of Bengaluru contacted me through a social media platform and later joined me through WhatsApp. Over time, she gained my trust and convinced me to start trading on an online platform.”

“She claimed that she had years of trading experience and to gain my trust she even deposited ₹5 lakh on my behalf. Relying on her assurances, I registered and deposited ₹50,000 on September 17,” reads the FIR.

Police said later on the pretext of an offer in investment, the victim was lured to invest more. “In multiple transactions, he transferred ₹79.20 lakh between September 17 to October 24. After four days, on October 28, when he attempted to withdraw profit, he was directed to transfer ₹61 lakh more as taxes,” said Vijay Rana, station house officer, Cybercrime Branch.

Police said despite multiple attempts, when the woman, who befriended him online, did not provide any help and he found his online presence was also fake, he realised that he had been duped. A case of cheating and cheating by personation of BNS and the IT Act was registered at the Cybercrime Branch police station and further investigation is underway.